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2925 Montessouri Street Las Vegas, NV 89117

4 Beds 5 Baths 4,237 sqft Built 1988

$749,000

List Price

$3,620

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

February 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $176.78
  • 2 Days on Market
  • MLS # : 2268256
  • Updated Date : 02/07/2021 at 02:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,237 sqft
  • Baths : 4 full , 1 half
Listing Agent

Executive Realty Services

Listing Agent's Description

Location Location!! Beautiful Custom Single Story Home located in Quiet/Private setting, Home is over 4,000 Sq ft on a 1/2 Acre Lot within a Cul De Sac in the desired area of Section 10, Included is RV Parking w/ Multiple Hookups this can also double as a Sports Court with its own separate entrance. Master bedroom is located on opposite side of home away from the other bedrooms, All bedrooms w/ baths & walk-in closets, Home is well set up for a Home Office, Auto Security Window Coverings, Large Covered Patio w/ Built-in BBQ, Large Pantry, Oversized Garage w/ Lots of Storage, Serene Backyard w/ real grass, No HOA! Home has a lot of Natural Light, This Home has Character & is a Must See!!

SEE MORE

MARKET HIGHLIGHTS

  • Las Vegas metro has 61.2% labor force participation rate (USMayors.org, 2018)
  • Las Vegas metro's employment growth was at 2.6% in 2018 and predicted to grow at the rate of 1.7% in 2019 (USMayors.org, 2018)
  • A $7.5 billion mixed-use 6-year project known as Bleutech Park Las Vegas is starting in December 2019. The project will incorporate environmental and technological features such as water purification, on-site waste treatment and localized air cleaning. Described as an “insular mini-city,” the plan calls for use of autonomous vehicles, AI, augmented reality, robotics and other advanced technologies. (reBusinessOnline - France Media, 2019)
  • Las Vegas metro's major employers include: MGM Resorts International, Caesars Entertainment Corporation, Stations Casinos, LLC., Wynn Resorts, Boyd Gaming Corporation, Las Vegas Sands Corporation, Walmart Stores, Cosmopolitan of Las Vegas, The Valley Health System and Supervalu (Las Vegas Sun, 2019)
  • Las Vegas metro's economy was worth $124.9 billion in Gross Metro Product in 2018 and projected to grow to $133.2 billion in 2019 (USMayors.org, 2018)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: The Lakes-Country Club

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k368k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: The Lakes-Country Club

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10763020

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
R. Guild Gray Elementary School Primary Regular 521 24 5
Lawrence Junior High School Middle Regular 1,421 61 NA
Spring Valley High School High Regular 1,925 79 4

R. Guild Gray Elementary School

  • Education Level: Primary
  • # of students: 521
  • # of teachers: 24
5
GreatSchools Rating

Lawrence Junior High School

  • Education Level: Middle
  • # of students: 1,421
  • # of teachers: 61
NA
GreatSchools Rating

Spring Valley High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 79
4
GreatSchools Rating
 

$674,100$823,900$749,000

PURCHASE PRICE

$3,258$3,982$3,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,620
EXPENSES Loan Payment -$2,602
Property Tax -$443
Property Insurance -$109
Property Management Fees -$119
CASH FLOW
$347

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$749,000

PROJECTED PRICE

$3,620

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.5%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$10k$20k$30k$40k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,235

INVESTMENT

$204,235

Down Payment
$187,250
Rehab Estimate
$5,750
Closing Costs
$11,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$2,602

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,250
Loan Amount $561,750
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$83,211

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $3,620

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $3,792

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$3,400
1$3,4002$3,5003$3,6204$4,0005$4,300
$4,300
RENT COMPS ANALYSIS
  • 2925 Montessouri Street Las Vegas, NV 3
    • 4 beds 5 baths ∙ 4,237 Sqft ∙ Built 1988 4 beds 5 baths ∙ 4,237 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $3,620
    • $0.85
    •  
  • 1621 Montessouri Street Las Vegas, NV 1
    • 5 beds 4 baths ∙ 3,915 Sqft ∙ Built 1990 5 beds 4 baths ∙ 3,915 Sqft ∙ Built 1990
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $0.87
    •  
  • 3145 Monte Cristo Way Las Vegas, NV 2
    • 4 beds 4 baths ∙ 4,147 Sqft ∙ Built 1980 4 beds 4 baths ∙ 4,147 Sqft ∙ Built 1980
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.84
    •  
  • 2631 Miller Las Vegas, NV 4
    • 4 beds 4 baths ∙ 4,381 Sqft ∙ Built 1989 4 beds 4 baths ∙ 4,381 Sqft ∙ Built 1989
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $0.91
    •  
  • 2290 Casa Bella Court Las Vegas, NV 5
    • 4 beds 5 baths ∙ 4,482 Sqft ∙ Built 2003 4 beds 5 baths ∙ 4,482 Sqft ∙ Built 2003
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $0.96
    •  
PROPERTY LISTING DETAILS
Philip S Physioc
1.702.822.0237
Executive Realty Services
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2268256
Last Updated: 02/07/2021
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